Really depends. I find a more translucent bait works best up north on smallies. Here in Virginia where the water can range a shad colored bait works well in cleaer water and french pearl has been good for me when the water has some stain to it.
Wish I had a favoite color. But I have just started Jerk bait fishing and still have a lot to learn before I get to a favorite color stage. I will be throwing HT Ito Wakasagi, Megabass Sexy Shad a lot this season. I have several other colors, but I have to start some where.